World Bank, Bamboo Capital launch US$40m energy access fund for Madagascar

MADAGASCAR – Government of Madagascar and the World Bank have appointed the impact investing platform, Bamboo Capital Partners (Bamboo) as the international fund manager for the Off-Grid Market Development Fund (OMDF or the Fund), a US$40 million renewable energy access fund. OMDF was established in April and launches its financing operations with a first window for proposals for results-based financing (RBF) from 28 October to 8 December. Similarly, OMDF will also provide debt financing to solar distributors and financial institutions that finance end-customers or solar distributors in Madagascar. Société Générale…

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Bamboo Capital Partners exits indirect stake in Nigeria’s Accion Microfinance Bank

NIGERIA – Impact investing platform, Bamboo Capital Partners (‘Bamboo’) has successfully exited its indirect stake in one of the leading microfinance banks in Nigeria, Accion Microfinance Bank (‘Accion MfB’). Bamboo’s stake in Accion Microfinance Bank will now be held by global nonprofit and financial inclusion pioneer Accion. Accion remains active as a shareholder, through its board members, and as an adviser to Accion Microfinance Bank. Accion MfB strives to economically empower micro-entrepreneurs and low-income earners by providing financial services in a sustainable, ethical and profitable manner. Since 2007, Accion MfB…

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EDFI ElectriFI invests US$8m in BEAM to increase energy access across Africa

AFRICA – Bamboo Capital Partners (Bamboo), an impact investing platform, has announced that ElectriFI, the impact investment facility funded by the European Union, has invested US$8 million in BEAM, a pioneering investment platform set to revolutionise energy access for millions in sub-Saharan Africa and Asia. The BEAM investment platform deploys early stage equity capital for distributed energy service companies (DESCOs) and will unlock further debt capital.  With 1.1 billion people across the world without access to a reliable energy source, BEAM aims to play an instrumental role in delivering energy…

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